Keeping Your House as a Widow in Bankruptcy

Keeping Your House as a Widow Filing Bankruptcy in Virginia
One of the tragedies of being a widow is this: You lose the protection for your house that Virginia law gives a married couple filing bankruptcy.
After losing her husband, a widow under Virginia law can easily lose her house to her creditors.
Bankruptcy is set up by the Federal government, but each state sets its own rules on keeping your house if you file Chapter 7.  Virginia gives great protection for houses owned by a married couple for the debts of only one. That’s called tenants by the entirety. A widow, now single, after losing her spouse, is in danger of losing her house.
Virginia law allows a single person to protect $50,000 in real estate equity.  That’s up from $5,000 a few years ago, But it’s still very low compared to most states. It doesn’t go ver far in Northern Virginia.
Can Bankruptcy Law Help a Widow Cleasr Her Debts and Keep Her House?
I’ve had two different widows contact me in January 2025.  Through creative use of the bankruptcy law, it looks like both will be ok.
 
 
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